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Extreme Heat, Inc. plans to retain and reinvest all of its earnings for the next 20 years. Beginning in year 21, the firm will begin
Extreme Heat, Inc. plans to retain and reinvest all of its earnings for the next 20 years. Beginning in year 21, the firm will begin to pay a $10.76 per share dividend. The dividend will increase at a 6.9% rate annually thereafter. Given a required return of 15.1%, what the stock should sell for today? Enter the answer without the $ sign rounded to 2 decimal places.
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